On March 6, 2017, Aberdeen Asset Management PLC (LON: ADN) and Standard Life plc (LON: SL) announced an agreement on terms of a recommended merger that would create the UK’s largest active asset management firm.
Under the terms of the transaction, Aberdeen Asset Management PLC (“Aberdeen”) shareholders would own approximately 33.3% of the merged entity, with Standard Life plc (“Standard Life”) shareholders owning 66.7%. The merger values each Aberdeen share at 286.5 pence for an overall valuation of ordinary share capital of £3.8 billion. The merger is subject to shareholder and regulatory approvals.
Aberdeen is a UK-based, full-service asset management group, managing investments across all asset classes and markets. Aberdeen employs approximately 2,700 people worldwide and at December 31, 2016 had £302.7 billion in assets under management.
Standard Life is a UK-based investment group, specializing in active asset management, investment propositions and long-term savings. Standard Life employs approximately 6,300 people internationally and has £278 billion in assets under management.
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